The Nigeria Labour Congress (NLC) has rejected the increase in Premium Motor Spirit (PMS), also known as petrol from N148.50 per liter to N151.56 per litre.

Mr Ayuba Wabba, NLC President told the News Agency of Nigeria (NAN), while reacting to the increase in the price of petrol on Wednesday in Abuja.

NAN reports that the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, (NNPC) in a statement had announced that the new product price adjustment which takes effect from Sept. 2.

It would be recalled on Aug. 5, the price of petrol was increase from N143.50 to N148.50 per liter.

Some filling stations in Abuja have already started selling petrol for N161 per litre as at 5 p.m. on Wednesday.

According to Wabba, Nigerians and even the NLC are shocked about the increase and this increase is coming at a time when many Nigerians are passing through very peculiar and precarious times.

“It is like Nigerians are being taken for a ride, the increase in price of petroleum is like adding salt to injury.

“The increase in price of petroleum has happened now more than three times in three months, only yesterday they hiked the tariff of electricity,” he said.

The NLC president said that to compound the issue, the CBN also reduced the interest rate of savings which affects mostly the poor and the vulnerable.

“The organised labour therefore rejects the increase in price of the product in the strongest terms.”

According to him, “at the end of the day, Nigerians are becoming poorer and poorer; in fact, many people are already on the edge. Many workers are already on the edged.”

“Certainly, we cannot guarantee industrial peace and harmony, and we will have to call our organs and we will have to also react but we reject it in its entirety.

“They have betrayed the trust of Nigerians, for Nigerians to be protected against the economic challenge that is affecting us,” he said,

Also reacting, the Minority Caucus in the House of Representatives promptly rejected the reported increase in the pump price of fuel from N148 to N151.56.

Minority Leader of the House, Ndidu Elumelu, made the position of the lawmakers known in a statement on Wednesday.

He described the announced price as unacceptable, saying it would result in an increase in the already high cost of consumer goods and services, as well as worsen the current economic hardship being suffered by Nigerians.

“The minority caucus in the House of Representatives rejects the announced increase in the pump price of fuel,” the lawmaker stated.

He added, “This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when a majority of Nigerians across the country are struggling to survive under the burden of the high cost of living and low purchasing power occasioned by the prevailing economic challenges.

“Any increase in the cost of an essential commodity like fuel will, therefore, bring more hardship to the people and as such should not be contemplated.”

According to the minority leader, the opposition lawmakers are challenging the All Progressives Congress (APC)-led government to rather come up with strategies that will lead to decrease and not increase in the cost of domestic fuel.

He stressed that it was important for the government to revamp the nation’s refineries, instead of resorting to fuel price increase at the detriment of Nigerians.

Elumelu, therefore, directed the PPMC to immediately rescind the purported announcement and revert to the former price, with a view to further reviewing it downward.

The statement was in reaction to media reports that the Petroleum Product Marketing Company (PPMC) had increased the ex-depot price of Premium Motor Spirit, also known as petrol.

The PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is said to have increased the price from N138.62 per litre to N151.56 per litre. (NAN/Channels TV)

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